Kuroda support for the JGB market comes too late for foreign investors who sold in February: The MUFG Global Markets Podcast

The state of emergency for Tokyo and surrounding prefectures has been extended by two weeks. The Nikkei Average plunged, JGB rates were up, and USDJPY also rose by last Thursday. JGB rates have paused in their uptrend since last Friday, and USDJPY has also stalled at the lower 108 level. U.S. rates are also inching upward. The focus will be on the monetary stances of central banks around the world, including the BoJ’s yield operations as a test case for post-COVID-19 monetary policy.

In today’s episode, MUFG Chief Japan Strategist, Takahiro Sekido, breaks down recent price action in Tokyo and discusses Japanese and overseas investor cross-border flows. He also shares his outlooks for Dollar/Yen, Yen rates, and Yen basis ahead of the BoJ’s monetary policy review.

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